Robertson traded in an old plant asset for a newer model that would be more productive and efficient. Data relative to the old and new plant assets follow:

Old Plant Asset
Original cost	$10,000
Accumulated depreciation of	7,000
Fair value	2,000
New Plant Asset
List price	13,000

Robertson paid $10,500 cash in the trade. What should be the cost of the new plant asset for financial accounting purposes?

A.$13,500

B. $12,500

C. $12,000

D. $13,000